Mike and Jennifer Rigley (buyers) 916.378.4671 / (sellers) 916-660-5823 Info@RigleyRG.com
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Another article came from John N. Frank that I thought was worth sharing and you might enjoy.
The sales price of neighboring homes is only one part of the equation. Be sure that sellers understand
the other factors that affect how their home compares to their neighbors'.
Location within the neighborhood.
If your seller’s home is in a part of the neighborhood that borders a highway, train tracks, or an industrial area, it’ll likely fetch a lower price. Make sure you pull comps of other homes in similar locations to compare and explain pricing differences to sellers.
The home’s lot.
Take into account that hilly terrain can affect the usability of each home’s lot and bring your seller’s price down. You can have two one-acre lots next to each other, and one can be fully usable while the other is only half usable because of steep slopes, says Todd Gibbons of William Pitt Sotheby’s International.
Home owners who have done home-improvement projects typically get a higher price for their property. You should know which properties in the neighborhood have undergone renovations and how much they sold for so you can suggest to your seller what projects they should do if they want to boost their home’s sale price.
In some markets, the cost of land has dropped, making building a new home less expensive and, thus, more affordable for buyers. Sellers need to understand how competition from the new-home segment could affect their listing price. For example, in the suburbs of Chicago, where Michael LaFido of Marketing Luxury Group does business, building a house similar in size to an existing structure costs 20 percent less today than before the recession. Pull comps from builders in your area to show sellers the potential impact on their home’s value.
The difference between listing price and sales price.
Many sellers will go online to see listing prices for other homes on the market in their neighborhood and ask you to price their house accordingly. You need to explain that listing prices reflect what sellers are asking, not what buyers are willing to pay. That’s why sold inventory is more reliable for determining the realistic price of your seller’s home than the asking price of properties currently on the market.
Are you thinking of selling your home in Elk Grove? You should know exactly what it’s worth before making such an important decision. Get a CMA “Comparative Market Analysis”, for free, and with no obligation. This analysis compares your Elk Grove home to others that are currently on the market and to those that have recently sold.
As top Elk Grove REALTORS®, the Rigley Realty Group can determine the value of your Elk Grove home and perform a quick market analysis, giving you a free estimate of what your home is worth in today’s market.
Mike and Jennifer Rigley of the Rigley Realty Group come with 10 + years experience helping buyers, sellers and investors realize their Real Estate dreams. Including:
- 30+ Year Sacramento Residents
- Over 1,400 homes sold since 2003 – 10x the average agent
- On Average sell homes 25.8% faster and for 1.5% more than the average agent
- Guarantee your Home will sell at a price acceptable to you or they will sell it for free*
- Team Approach for Maximum Client Satisfaction
- Ranked #145 Worldwide for all Keller Williams Agents 2008
- Ranked in the Top 25 of all agents & companies county wide in both the number of listings & sales since 2004
- Top 500 Teams All Companies in California for Production
- Sacramento Magazine 5 STAR Agent
In short, the Rigley Realty Group will sell your home for the most amount of money, in the shortest amount of time, with the least amount of hassles.
What’s your Elk Grove home or property really worth? Get the true value of your home NOW!
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